Learn the fundamentals of world-class asset management.

We offer this training course as an introduction for anyone wishing to learn the fundamental principles and concepts underpinning world class asset management, and the benefits to be accrued from applying these within an asset-rich organisation. This course aligns with the IAM Foundation Award course (IAM endorsed) and includes the Foundation Award Knowledge Test at the end. As a participant, you will obtain an understanding of the key principles of effective asset management in the context of the ISO standard for asset management, ISO 55000. You will also obtain a better understanding of the benefits to be obtained from taking a systematic approach to asset management.

Key outcomes

By the end of this course, you will (at a minimum) be able to:

  • Describe what asset management is and why it is important.
  • Describe the role asset management can play in supporting organisational strategy and objectives.
  • Describe the relationships and differences between asset management policy, strategy and plans.
  • Describe the principles of asset whole life costing.
  • Describe the role of Risk Management in effective Asset Management.
  • Give examples of how AM performance can be measured.
  • Describe the main advantages of a systematic approach to Asset Management.

Course outline

  • What is Asset Management?
  • What is an Asset?
  • What is the Asset Lifecycle?
  • Models for Asset Management, including the PAS 55, ISO 55000, IAM, GFMAM and other Asset Management Models
  • Traditional v PAS 55/ISO 55000 Asset Management
  • The Impact of AM on a Business
  • Summary of AM Benefits
  • Case Studies – Benefits of AM
  • Document Hierarchy for AM
  • Policies, Strategies and Plans
  • Why, What & How – Asset Management Policy
  • Why, What & How – Strategic Asset Management Plan
  • Why, What & How – Asset Management Plans
  • Case Study – AM Documentation
  • The Performance/Cost/Risk Trade-off
  • Cost-based Decision Making
  • Risk-based Decision Making
  • Performance-based Decision Making
  • Case Study – Asset Management Decision Making
  • Assessment of competency against learning objectives
24 Jun 2024
8 Jul 2024
5 Aug 2024 - 6 Aug 2024
21 Oct 2024

Asset Management Foundation Award

  • Brisbane, Melbourne, Online
  • From $877.50 excl. GST
  • Online duration: 8 hours
  • Face to face duration: 8 hours

Group discounts applied in cart.

Receive up to 20% off.

Group discounts are available for all courses. Receive 10% off when booking at least 2 attendees, or 20% off when booking at least 4 attendees.

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Who should attend?

This course has been tailored towards managers wishing for an overview of the key elements and benefits of effective asset management, or anyone who requires an introduction to the key principles underpinning effective asset management.

Assessment and accreditation

As this course is part of the IAM’s competency framework, each attendee will be formally assessed to measure successful understanding of the concepts and principles discussed in this course. This assessment consists of a formal knowledge test at the end of the course. Participants who successfully pass the test at the first attempt will be issued a certificate of completion by the IAM.

Customise this course to match your training needs.

We realise that your challenges may be unique, so we welcome enquiries regarding customising or expanding any of our courses to meet your specific training needs. An obligation-free discussion with one of our expert consultants is a great place to start.